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16 Sep 2013
Flash: Risk sentiment improves on Syria pullback - Investec
FXstreet.com (Barcelona) - Jonathan Pryor, Corporate Treasury Analyst at Investec notes that risk sentiment has improved over the weekend as investors have been increasingly comforted that the prospect of military intervention in Syria has receded, with agreement between Russia and the US on a timetable for decommissioning Syria’s chemical weapons.
Key Quotes
“While markets globally have been responding well it’s the pound which is benefitting the most amongst G10 currencies.”
“On Friday data released by the Office for National Statistics indicated construction output increased by 2.2% on the month in July adding to the recent encouraging data from all sectors of the UK economy.”
“It should be noted that while these numbers are impressive, the recent strength is taking place from a very low base. Indeed the level of construction output in Q2 stood 14.1% below its pre-crisis peak in Q1 2007, illustrating exactly how tough conditions in the sector have been since the downturn.”
Key Quotes
“While markets globally have been responding well it’s the pound which is benefitting the most amongst G10 currencies.”
“On Friday data released by the Office for National Statistics indicated construction output increased by 2.2% on the month in July adding to the recent encouraging data from all sectors of the UK economy.”
“It should be noted that while these numbers are impressive, the recent strength is taking place from a very low base. Indeed the level of construction output in Q2 stood 14.1% below its pre-crisis peak in Q1 2007, illustrating exactly how tough conditions in the sector have been since the downturn.”